BNSF Railway has just become the newest member of the Blockchain in Transport Alliance (BiTA). This development is relevant not only because BNSF Railway is a major US freight railroad network, but more importantly because it is owned by Berkshire Hathaway of no other than Warren Buffet.
The company stated that its membership in the alliance was an effort specifically meant to allow them to work with the other members in setting standards for the transaction of data within a transportation blockchain. They are also keen on understanding how that data will need to be structured and reformatted.
“Blockchain technology has the potential to change several aspects of the transportation industry and it is important that the industry comes together to align around a set of standards,” said Muru Murugappan, BNSF’s CIO and vice president of technology services.
This entrance into the alliance also makes them one of the first railroad network operators in North America that’s seriously considering blockchain for pursuing industry transformation.